Weekly home auction volumes double

The number of housing auctions doubled last week following the end of the holidays, but slower activity across Sydney meant there were fewer homes on the market than there were a year ago.

There were 867 auctions in the week ending February 5, with a clearance rate of 70.8 per cent, compared to 368 auctions at 71.6 per cent in the prior week, data from property markets analytics firm CoreLogic showed.

But in the corresponding period a year ago, there were 916 auctions with a clearance rate of 70.1 per cent.